NSW Government Funds 40% of Altitude’s $200K T55 Drilling Program
Altitude Minerals has been awarded an $80,000 NSW Government grant to co-fund drilling at its T55 copper-gold porphyry target, advancing exploration at the Byrock Project in New South Wales.
- NSW Government grants $80,000 for T55 drilling
- Grant covers 40% of 500m deep drill hole costs
- Drilling permits and land access secured
- Drilling planned for December 2025, pending rig availability
- Exploration funded by recent $2.5 million placement
Government Support Boosts Exploration
Altitude Minerals Ltd (ASX, ATT) has received a significant vote of confidence from the New South Wales Government with the award of an $80,000 drilling grant. This funding will co-finance the upcoming drill test of the T55 copper-gold porphyry target, a key focus within the company’s Byrock Project located in the Northern Macquarie Arc region.
Strategic Drilling Plans Take Shape
The grant covers 40% of the costs associated with a planned 500-metre deep rotary mud and diamond core tail drill hole. With drilling permits approved and land access agreements in place, Altitude aims to commence drilling in December 2025, subject to rig availability. This initiative follows the company’s recent announcement to drill the nearby high-priority “Pipe” targets in November, underscoring a busy exploration schedule.
Backing from Capital Markets and Partnerships
Altitude’s exploration activities are fully funded, supported by a recent successful $2.5 million capital raising. The company also holds an option to earn up to a 75% interest in the Byrock Project through an agreement with Nimrod Resources, the project owner. This partnership and financial backing position Altitude well to advance its exploration pipeline and unlock potential value for shareholders.
Potential for a Large-Scale Mineral System
Managing Director Duncan Chessell highlighted the significance of the grant as validation of the technical work undertaken by Altitude and Nimrod Minerals. The T55 target is interpreted as a large-scale copper-gold porphyry system, with the company’s new geological interpretation extending the Macquarie Arc northwestwards under cover. This could open up previously unrecognised exploration opportunities in the region.
Looking Ahead
This drilling program will be the third within four months, reflecting Altitude’s aggressive strategy to test multiple targets and accelerate discovery potential. The results from the T55 drill hole will be closely watched by investors and industry observers eager to see if the project can deliver a significant new copper-gold deposit in a highly prospective part of New South Wales.
Bottom Line?
With government backing and solid funding, Altitude Minerals is poised to make a decisive step in unlocking the Byrock Project’s copper-gold potential.
Questions in the middle?
- What initial results will the December 2025 drilling at T55 reveal about the porphyry system?
- How will Altitude balance exploration spending across multiple targets in the Byrock Project?
- What are the next steps if the T55 drilling confirms a significant mineralised system?
